Dividend payments this year surpass target
Aditya Suharmoko, The Jakarta Post, Jakarta | Thu, 12/24/2009 10:03 AM
Dividend payments to the government from state firms, excluding state oil and gas producer PT Pertamina, have exceeded this year’s target by Rp 800 billion (US$84 million), a ministry official said.
“Dividend payments, excluding Pertamina, have surpassed the target,” Said Didu, secretary to the state minister for state enterprises, said Wednesday after a review meeting with the coordinating minister for the economy.
The government had expected to receive Rp 28.6 trillion in dividend payments from state companies this year, including from Pertamina. Said said the dividend payment from Pertamina this year was expected to reach Rp 13 trillion.
The dividends are derived from profits of state companies in the previous year after their books have been audited.
In the 2010 state budget estimated dividend payments of state companies to the government are slashed to Rp 23 trillion because of the declining performance of state companies this year due to the continuing impact of the global economic downturn.
State Minister for State Enterprises Mustafa Abubakar expected the companies could generate a higher dividend next year (for the 2011 budget) because Indonesia’s economy had managed to cope quite well with the global downturn.
“In general I want state companies to raise performance in revenues and profits. I also hope the quality of services will increase,” he added.
State public-listed companies are expected to provide a significant contribution to dividend payments next year, including telecommunication company PT Telkom, gas firm PT Perusahaan Gas Negara, mining company PT Aneka Tambang and coal firm PT Batubara Bukit Asam, said Mustafa.
Indonesia’s economy is estimated to grow by 4.3 percent in 2009, and accelerate to 5.5 percent next year.
Mustafa said he would talk to state companies to improve their working plans to increase their contribution to the economy in 2010.
State companies are expected to be more efficient and productive as demand will increase due to improved economic conditions globally and locally next year, he said.
